Money

By Hanna Ziady, CNN London (CNN) — Luxury stocks tumbled in Europe Wednesday after a profit warning from the owner of Gucci laid bare a sharp slowdown in demand for high-end goods, especially in China. Shares of Kering plunged as much as 15% in Paris, while LVMH, Europe’s second-most valuable company and owner of brands

By Bryan Mena, CNN Washington, DC (CNN) — The Federal Reserve held its key interest rate steady Wednesday for the fifth consecutive meeting, as the central bank awaits more data to determine when to cut rates. The Fed has raised rates aggressively over the past two years in a bid to fight the highest inflation in decades. But while Americans continue to deal with

By Elisabeth Buchwald, CNN New York (CNN) — The US economy defied forecast after forecast predicting an imminent recession over the past two years. Instead, it grew beyond belief. A boom in immigration was part of the recipe, Federal Reserve Chair Jerome Powell said in a “60 Minutes” interview on CBS last month. But stricter

By Matt Egan, CNN New York (CNN) — The soft landing that once looked nearly impossible for the Federal Reserve to pull off is still on track. That’s the message from Jan Hatzius, the chief economist of Goldman Sachs. “Certainly, it doesn’t look like the economy is anywhere close to a recession,” Hatzius told CNN.

CNN By Melissa Alonso, CNN (CNN) — With no winner of the Mega Millions jackpot Tuesday, the jackpot for Friday’s drawing has climbed to an estimated $977 million, according to the lottery. While there was no big winner Tuesday, four players won at least $1 million, Mega Millions said. Tuesday’s winning numbers were: 24, 46, 49,

By Melissa Alonso, CNN (CNN) — With no winner of the Mega Millions jackpot Tuesday, the jackpot for Friday’s drawing has climbed to an estimated $977 million, according to the lottery. While there was no big winner Tuesday, four players won at least $1 million, Mega Millions said. Tuesday’s winning numbers were: 24, 46, 49, 62,

By Diksha Madhok, CNN New Delhi (CNN) — Five times the size of Paris. Visible from space. The world’s biggest energy plant. Enough electricity to power Switzerland. The scale of the project transforming swathes of barren salt desert on the edge of western India into one of the most important sources of clean energy anywhere

By Samantha Delouya, CNN (CNN) — Chipotle’s board announced that it approved a 50-for-1 stock split on Tuesday, which the company called one of the biggest stock splits in New York Stock Exchange history. That means a single share of Chipotle, worth $2,797.56 as of Tuesday’s stock market close, will be split into 50 smaller

By Ramishah Maruf, CNN New York (CNN) — Philanthropist MacKenzie Scott is giving away $640 million to 361 nonprofits, her organization — Yield Giving — and Lever for Change announced Tuesday, after an open call for applicants. More than 6,000 nonprofit organizations had applied for the funding. Scott ended up giving more than double what

By Ramishah Maruf, CNN New York (CNN) — Trader Joe’s is recalling select cashews from stores in 16 states because they may be contaminated with salmonella, the specialty grocer said Sunday. The affected 50% Less Salt Roasted and Salted Whole Cashews are sold in Alabama, Arkansas, Arizona, California, Colorado, Idaho, Kansas, Louisiana, New Mexico, Nevada,

By Olesya Dmitracova, CNN London (CNN) — The owner of Novo Nordisk, the drugmaker that gave the world Ozempic and Wegovy, is funding a new supercomputer powered by Nvidia’s artificial intelligence technology with a key aim of discovering new medicines and treatments. The Novo Nordisk Foundation has awarded France’s Eviden a contract to build what

By Matt Egan, CNN (CNN) — The House Education Committee formally requested a wide range of documents from the University of California, Berkeley on Tuesday as part of lawmakers’ growing investigation of antisemitism on college campuses. In a letter to UC Berkeley leaders, Rep. Virginia Foxx, the Republican chair of the committee, said lawmakers are

By Oliver Darcy, CNN (CNN) — Former President Donald Trump filed yet another lawsuit against the news media late Monday, accusing ABC News and George Stephanopoulos of defamation over assertions the anchor made in a combative interview. In an interview on “This Week,” Stephanopoulos pressed Republican Rep. Nancy Mace, a rape survivor, over her continued support

Reuters Washington DC (CNN) — The National Highway Traffic Safety Administration said on Monday it has opened an investigation into a recent Ford Mustang Mach-E fatal crash in San Antonio, Texas, where authorities suspect an advanced driver assistance system was in use. Driver assistance features are being hailed by automakers as a way to reduce accidents,

By Hanna Ziady, CNN London (CNN) — The world’s biggest ice cream business is about to go it alone. Unilever announced Tuesday that it plans to spin off its ice cream unit as part of a drive to boost sales and profitability, which will also entail cutting around 6% of the workforce. After a century-long

By Anna Bahney, CNN Washington, DC (CNN) — Amid a housing shortage and an affordability crisis, US homebuilding heated up in February as builders anticipate demand for new homes to stay strong. One sure way to improve affordability is to increase the availability of apartments to rent and homes to buy. In areas of the

By Melissa Alonso, CNN (CNN) — A New York state judge on Monday denied a motion to dismiss a lawsuit against several social media companies alleging the platforms contributed to the radicalization of a gunman who killed 10 people at a grocery store in Buffalo, New York in 2022, court documents show. “The Court has

By Bryan Mena, CNN Washington, DC (CNN) — As the Federal Reserve starts its March policy-making meeting on Tuesday, interest rates remain at a 23-year high, yet unemployment is low, stocks have reached repeated record highs and there’s no recession in sight. Economists are baffled. Whenever the Federal Reserve lifts rates to battle high inflation,

By Jordan Valinsky, CNN New York (CNN) — Coca-Cola, often criticized for being one of the world’s top plastic polluters, is making changes to the bottles of its namesake soda as part of a years-long initiative to be more environmentally friendly. Arriving at US retailers this week, all versions of Coca-Cola (i.e. zero sugar, diet,

CNN By Matt Egan, CNN New York (CNN) — Jan Hatzius predicted a soft landing in late 2022, back when many feared a recession was inevitable. The Goldman Sachs chief economist made a name for himself by making the opposite call in 2008, warning that toxic mortgages would ignite a recession. Now, Hatzius is offering